PayTech venture Checkout.com announces mega Series D funding round
Payments company Checkout.com has closed a $1 billion Series D funding round, valuing it at $40 billion.
The venture, whose customers include Farfetch, Pizza Hut, Netflix and Shein, has raised a total of $1.8 billion to date.
Primary players in the Series D round include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, and the Oxford Endowment Fund.
Several of the company’s existing backers also participated.
The cash will be used in three key areas: US market growth, a marketplaces solution launch, and to strengthen its position in the Web3 space.
“At our core, we help enterprise merchants to navigate the complexity of moving money around the world, whether in fiat currency or bridging the gap to Web3,” says Checkout.com Founder and CEO, Guillaume Pousaz.
“By combining an elegant technology stack with industry expertise and an 'extra-mile' approach to service over the past decade, we've built deep partnerships with some of the world’s most innovative companies.”
“Our Series D is validation of that work, but given we’re still in ‘chapter zero’ of our journey, it will also fuel our efforts to unlock the enormous untapped opportunity ahead.”
“Checkout.com is a leader in the massive market for next-gen payment solutions and the key digital payments partner for many of the world’s leading companies,” says Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, Singapore’s sovereign wealth fund.
“As a long-term investor, we are impressed by the company’s product innovation and customer centric approach. That’s why we’ve been committed to its long-term future since Series A and why we’re part of Series D.”
“We believe Checkout.com is still just getting started. And we look forward to leveraging GIC’s global network and our Bridge Forum platform to support Guillaume and his exceptional team for many years to come.”
